New Risk • May 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 43% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (32% average weekly change). Negative equity (-CA$7.9m). Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Market cap is less than US$10m (CA$8.76m market cap, or US$6.37m). Minor Risk Revenue is less than US$5m (CA$2.2m revenue, or US$1.6m). Reported Earnings • May 05
Full year 2025 earnings released: CA$0.023 loss per share (vs CA$0.089 loss in FY 2024) Full year 2025 results: CA$0.023 loss per share (improved from CA$0.089 loss in FY 2024). Revenue: CA$2.15m (up CA$1.89m from FY 2024). Net loss: CA$2.99m (loss narrowed 60% from FY 2024). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 49% per year, which means it is significantly lagging earnings. Announcement • Apr 11
Promino Nutritional Sciences Inc. Launches NCAA Division I Athlete Platform Through Multi-Sport Nil Partnership with Virginia Military Institute Promino Nutritional Sciences Inc. announced a multi-sport Name, Image and Likeness ("NIL") partnership with eight NCAA Division I student-athletes at the Virginia Military Institute ("VMI"). This agreement marks the formal launch of the Promino NCAA Athlete Platform, a strategic initiative designed to provide collegiate athletes with the Company's NSF Certified for Sport® proprietary amino acid formulations. The partnership includes eight cadet-athletes across VMI's Division I programs, who will integrate the formulation into their training and recovery protocols. The Company intends to utilize this multi-sport program as a model for potential expansion into additional NCAA athletic programs, subject to future agreements. Promino's performance platform is engineered to support muscle protein synthesis and recovery through precise, low-calorie formulations. Unlike traditional protein formats that require lengthy digestion, Promino's proprietary ratio is designed for rapid absorption, delivering muscle-building support without "digestive drag" or excess calories. Its core product, Rejuvenate Muscle Health™, is a clinically researched proprietary amino acid formula designed to rebuild, restore, and rejuvenate muscle tissue. The Company also produces Promino™ - NSF Certified for Sport®. 
